First Grand Prix One circuit in Romania to be built in Snagov

Next summer, in Snagov, South Pacific Group will start building the first Grand Prix One circuit in Romania, which will include a 3.8 kilometre long car track, retail spaces, showrooms, restaurants and a four-star hotel.

"There are Grand Prix One circuits in Vienna, Rome, Milan, Barcelona or London. We thought of developing such a project in Romania because there is no track on which such car races could be organised. Such a concept, similar to all Grand Prix races in the world, includes a Formula 3 track, retail spaces, showrooms, restaurants and a four-star hotel", told Mediafax agency Andrew Prelea, CEO of South Pacific Group.

According to him, the cost to obtain a Grand Prix One licence exceeded 25 million euros, and Italian company Mainstreet, which owns this concept, would receive a share of the recipe every year of functioning.

The total project value will exceed 300 million euros, the investment belonging exclusively to the South Pacific Group. The money will come mainly from banking credits, but also from own sources.
"We have chosen Snagov because it is near Bucharest and it can be easily reached from the airport. We discussed with the mayoralty and they were delighted at the idea. On 10 January 2008, a referendum will be organized in Snagov, and we will see if the population will also approve th eproject", Prelea said.

Besides the  3.8 kilometre track, on which Formula 3 races, car races and tests can be organized, the project also includes 60 000 square metres of retail galleries - mainly rented to clothing and clothing accessories companies - and 90 000 square metres dedicated to the arrangement of car show-rooms and several restaurants and cafes. A 140-room four-star rated hotel.

Curierul National